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PM Unveils Tax Breaks For Middle Class
Tue, September 17, 2024
Prime Minister John Briceno delivered his first State of the Nation Address today. And to understand how we got here, you'd have to know or remember what a Throne Speech is. Traditionally, it's the speech given by the monarch or Governor General to open a session of parliament.

It was abandoned in Belize by the Musa administration back in 1999 - and then briefly resurrected by the Barrow Administration - only to be jettisoned again by the Briceno Administration.

And so that leaves us with today's State of the Nation Address - bereft of any parliamentary significance - and really just a way to let off some political steam - as you will see later in the news.

But the speech itself was newsworthy - if only for the break on income tax the Prime Minister announced for wage earners making up to twenty nine thousand dollars per year.

Jules Vasquez reports:

Controversy may stalk his administration in the evening news - but in the sanitized aura of the State of the Nation Address - there was no hint of disharmony:

John Briceno, Prime Minister
"I am happy to report that the State of the Nation is stronger, more hopeful and more confident than at any time in our 43 years."

To prove that, the Prime Minister points to sustained strong economic growth:

John Briceno, Prime Minister
"Gross domestic production as of the end of 2023 has now surpassed 6 billion dollars, the highest level in the country's history and in the first quarter of this year by another 10 percent."

And for the continued strong economic performance, all roads lead back to tourism and the low unemployment rate:

John Briceno, Prime Minister
"In the first half of this year, overnight arrivals have surpassed pre-pandemic levels by 15 percent and increased by 26.5 percent compared to last year."

"Never before have so many jobs been available and never before has the minimum wage been so high."

And the big reveal of today's speech, a political plum for those employed persons:

John Briceno, Prime Minister
"Effective January 1st., in support of employees, Cabinet has approved that all workers who earn less than $29,000 will be exempt from income tax."

"By increasing the income tax exemption threshold from $20,000 to $29,000, an additional 2,851 workers will no longer be subject to income tax."

"Altogether, by these income tax deduction adjustments, over 3.3 million dollars more will be placed directly into the pockets of over 3,500 employees, an average of almost 1,000 dollars increase in net take home pay to these 3,500 hard working Belizeans."

And there was also something in there for small enterprise owners:

John Briceno, Prime Minister
"To further support small business, small farmers, even new homeowners, Government is making access to finance more affordable."

"And as we ring in the New Year, Government will pass legislation so that all mortgages, assignments and cancellation of mortgages for less than $100,000 will be exempt from stamp duty."

And the only nod to any difficulties at all was with the persistent problem of crime - where the Prime Minister actually suggested that constitutional protections are only an armour for criminals:

John Briceno, Prime Minister
"Indeed the State of the Nation is not without intractable problems. No State can be."

"Citizen safety, for example, constantly tests our mettle, especially because the same Constitution that guarantees our liberties can, at times, provide armour for disturbers of the peace."

It's a dime view of the nation's foundational document, but the PM still claimed a moral high ground:

John Briceno, Prime Minister
"Among the community of nations, Belize pitches in the big leagues. Not the big leagues of military might or consumptive wealth. I mean the big leagues of moral statecraft."

"Belize can mark this 43rd birthday with confidence and pride."

"Momentum is on our side. The work continues. After four years of impressive achievements, our promises shine with the aura of destiny."

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